$2 Million Awarded From the Core Communities Fund

The Michigan Economic Development Corporation (MEDC) awarded $2 million from the Core Communities Fund to assist the newly designated Mount Pleasant SmartZonetoday. The Mount Pleasant SmartZone will use the funding for infrastructure improvements to the newly designated zone area.

“This award will help develop an important element of the Mount Pleasant SmartZone, the incubator,” said Doug Rothwell, president & CEO of the Michigan Economic Development Corporation.“This facility will be used to assist the growth and development of start-up companies bringing the area one step closer to becoming a high-tech haven.”

Following an extensive evaluation by the MEDC, the Mount Pleasant SmartZone was awarded the Core Communities funding to assist in the development of the zone’s incubator facility, the Institute for the Development of Entrepreneurial Activity (IDEA).Specifically, the funding will assist in the building construction, fiber optic network and supercomputing infrastructure.

Eighty-eight core communities and those municipalities awarded a SmartZone designation are eligible to apply for Core Communities Funds. Established through a $50 million appropriation from the State Legislature, the Core Communities Fund’s goals include:

Promoting private investment and job creation;

Encouraging mixed-used development in our central cities;

Redeveloping or reusing obsolete buildings or non marketable sites;

Effectively competing for interstate and international projects;

Developing certified business or technology parks; and

Enhancing the quality of life and strengthening the economic base while reducing urban sprawl.

Last month, the MEDC designated 11 SmartZones in communities throughout Michigan, including the Mount Pleasant SmartZone.The zones are designed to bring business, research activities, and training and support services together in one location allowing for easy collaboration.

The Mount Pleasant SmartZone aims to build a national center for research and development of business intelligence solutions.It includes University Park, a 600-acre site located within the City of Mount Pleasant.The local contact is George Dunn, Middle Michigan Development Corporation, 517-772-2858.

The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.